Toncoin just went absolutely ballistic after Telegram founder Pavel Durov escaped French custody and made it back to Dubai.

We're talking a 50% price surge in a week – the kind of move that makes you check your portfolio twice to make sure those gains are legit. 

Turns out getting your billionaire founder out of legal trouble is insanely bullish for your token.

Chart Nerds Rejoice

This wasn't just a pump on the back of good fundamental news – TON bounced perfectly off the $2.50 support level like it was made of rubber.

That's the same $2.40-3.00 zone that kept rejecting TON throughout 2022 and 2023, now flipped to support.

If you missed buying the dip, don't beat yourself up – plenty of traders were too busy doom-scrolling to notice the perfect entry.

Instead of crying over missed gains, let's look at where this rocket might be headed next.

The Magic Numbers

All the TA wizards are pointing to $5 as the next major target, potentially hitting as soon as June or July.

That descending trendline resistance has been a pain, but this rally has enough juice to finally break through.

We've got a textbook falling wedge setup that's screaming for a move to $6 if TON can break the upper trendline.

And if history is any precedent, nothing pumps quite like a token with an actual working product and a billionaire founder who just escaped the clutches of European regulators.

Are We Oversold?

The RSI is showing TON was more oversold than almost anything else on the market – okay slight exaggeration, but it’s flashing “buy” with a lot of pretty lights and colors.

Every time TON's Sharpe ratio has gone negative like this, the token has gone on an absolute tear.

Just look at the charts from late 2022 and mid-2023 if you need a history lesson on what happens next.

Meanwhile, open interest has exploded from $80.75 million to $169.12 million in five days while funding rates are still mostly negative.

The Squeeze Is On

You know what happens when shorts pile in right as a token starts pumping, right?

If TON cracks $4, we're looking at $12 million worth of shorts getting absolutely rekt.

That's the kind of forced liquidation cascade that sends prices vertical faster than you can type "gm" in the group chat.

Of course, if we drop to $2.54, about $10 million in longs will be calling their therapists – crypto giveth and crypto taketh away.

A Ton Of Good News?

Durov's legal drama created the perfect FUD storm that crushed TON's price to yearly lows – now his freedom has flipped the script faster than SBF attempting to get that sweet, sweet Trump pardon.

Smart money is already positioning for the next leg up while retail is still trying to figure out if this pump is legit.

When a token with actual utility and massive user base goes on sale, whale wallets tend to fill up before retail even notices.